The amendment brings about parity in tax treatment between salaried and non-salaried self-employed persons.
These schemes are treated like equity fund for the purpose of taxation. The returns can be in line with the debt funds and will not be influenced by the movements in equity markets.
Government should also reconsider the decision to levy service tax on insurance products.
Not all gifts attract income tax. Know the rules that decide tax treatment of gifts.
Equity mutual funds let accumulate retirement funds at a double digit rate of returns through systematic investment plan. Debt funds can be used to protect the kitty once investor reaches age of retirement.
People, who invest in FD, think that it‘s a one time investment and they don‘t need to check it constantly. Unfortunately, that‘s a wrong notion. Since, if you don‘t know, let me tell you, FD returns attract higher taxes.
While insurance plans do offer tax benefits up to Rs 1 lakh under section 80c of the income tax act, new change in rules and regulations especially with the implementation of Direct Taxes Code (DTC) means one needs to be careful.
New Delhi-based Indian Renewable Energy Development Agency (IREDA) has come out with its public issue of tax free, secured, redeemable, non-convertible bonds in the nature of debentures of face value of Rs 1,000 each.
Indian Renewable Energy Development Agency Limited (IREDA) has planned to raised Rs 1000 crore via tax free bond issue for which company has filed DRHP.
HUDCO raised Rs 2,184.83 crore through issue of the second tranche of tax-free bonds, of which retail investors accounted for Rs 1,267.15 crore, high net worth individuals (HNIs) Rs 491.03 crore and institutional investors Rs 426.65 crore.
Bond funds are considered a low risk investment as & they have helped investors tied over the last six odd years of equity market turmoil. They are now in the news because of volatility in bond prices and the recent slue of tax-free bond offers. Let's understand how bonds can work for you from Vijai Mantri, MD & CEO of Pramerica MF.
The issue opens for subscription on October 18, 2013 and is scheduled to close on November 11, 2013, with an option for early closure or extension, as may be decided by the Board of Directors or the Functional Authority.
The public issue of "tax free, secured, redeemable, non-convertible bonds in the nature of debentures of face value of Rs 1,000 each" would amount to Rs 500 crore.
In an interview to CNBC-TV18, Rajiv Datt, managing director, Indian Railway Finance Corporation (IRFC) gives his expectations from the tax-free bond issue meant to raise over Rs 8,886.40 crore.
Tax-free bonds are tax free, that is, the interest earned on the bonds are exempted from taxation. This feature of the instrument makes it highly attractive for individuals from the higher tax bracket or for institutions as well as corporates.
Exports from special economic zones (SEZs) are expected to cross Rs four lakh crore in the current financial year from Rs 3.65 lakh crore in the previous fiscal, a senior official today said.
The government is likely to allow tax free bonds of atleast Rs 50,000 crore by public sector undertaking (PSUs), reports CNBC-TV18’s Aakansha Sethi quoting sources.
State-run lending agency Power Finance Corporation plans to raise over Rs 22,000 crore through infrastructure and tax-free bond issues during the current financial year (2011-12) to part fund its borrowing requirements.
Chandigarh, Mar 14 (PTI) With an eye on assembly polls scheduled next year, the SAD-BJP led government today put up a tax-free Rs 48,594.85 crore-budget for 2011-12 while relying on buoyancy in the local economy to fill up the state coffers.